On Wednesday President Bush put his signature on a sweeping energy bill. While everyone else is applauding the bill's effect on the environment and our dependency on foreign oil, Pete Najarian explains how to trade it?
The new legislation sets higher fuel economy standards for cars, higher efficiency standards for household appliances, and mandates increased production of renewable fuels explains Najarian.
As a result a lot of names in the agriculture sector moved higher Wednesday including Archer Daniels Midland (ADM), Monsanto (MON), Agrium (AGU) and Deere & Co (DE) Najarian says.
And even though solar energy wasn’t included in the bill the solar stocks moved higher anyway, he adds. To me that suggests real strength in the sector.